PUBLISHER: Renub Research | PRODUCT CODE: 1246759
PUBLISHER: Renub Research | PRODUCT CODE: 1246759
India Diesel Genset Market is expected to reach USD 2.78 Billion by 2030 compared to 1.48 Billion by 2022. India is a rapidly growing economy that requires energy to achieve its long-term objectives. The electricity sector in India is one of the most diversified in the world, and it is experiencing a significant shift that is changing the industry's image. Diesel generator sets (gensets) are frequently utilized as backup power sources in homes and businesses in India. Diesel genset demand in India is being pushed by various causes, including frequent power outages, more electrification in rural regions, and a rising requirement for consistent power supply in various industries. As a result, the Indian diesel generator industry is fiercely competitive, with many domestic and foreign businesses offering various goods and services.
Given that the administration has spent the previous three years focusing on boosting the country's electrical supply while having a surplus in some instances, the rise in capacity is extraordinary. As a result, the country's power exchanges, or the spot market for energy, have been trading at lower costs than a few years ago. India's use of diesel generator sets (gensets) has expanded due to the country's growing energy demand and inconsistent power supply. According to this research report India Diesel Industry will grow with a CAGR of 8.20% from 2022 to 2030.
The rising trend can be attributed to several factors, such as:
Overall, the rising trend of diesel genset usage in India may be attributed to the country's expanding energy consumption, unstable power infrastructure, and the necessity for backup power solutions.
India Diesel Genset market is classified into three types: Residential, Commercial, and Industrial. Due to the significant expansion in the service sector, which is likely to accelerate further over the forecast period, the commercial category is expected to be the largest market throughout the forecast period. Hospitals, Hotels, Restaurants, IT and Telecommunications Facilities, Banking, and Insurance are part of the service industry. The IT and business services market is one of the speediest service industries. According to the Government of India's India Brand Equity Foundation, the IT and business services industry is predicted to exceed USD 19.93 billion by 2025.
Diesel generators are often used in healthcare facilities, notably hospitals, to reduce power outages. The Indian government intends to expand public health spending to 2.5% of the GDP by 2025. The government started the PM Ayushmaan Bharat Health Infrastructure Mission in October 2021, intending to create a crucial healthcare network across the country in the following four to five years.
India Diesel Gensets sector is divided into three categories based on the KVA range: low, medium, and high. INDIA Medium KVA diesel generator sets have capacities ranging from 75 to 375 KVA. They are often utilized in commercial buildings, shopping malls, hotels, large-scale businesses, and data centers. Medium KVA diesel gensets provide dependable power and are an essential backup alternative for these establishments. They are chosen over low KVA diesel gensets because of their enhanced capacity and ability to handle larger power demand. The increasing use of diesel generators in India, particularly in medium KVA capacity, is due to the country's expanding energy demand and unstable power infrastructure.
Low KVA diesel generator sets with a capacity of less than 75 KVA are prevalent in India. These generators are utilized in a variety of purposes, including backup power for families, small enterprises, rural electrification, and agriculture. They are inexpensive, simple to install and provide a dependable power source in places with intermittent power supply. Low KVA diesel gensets are popular backup power options due to their low cost, ease of operation, and mobility. They will be critical in supplying power to rural regions and small enterprises and addressing the country's rising energy demand in the coming years.
The Indian Diesel Gensets Market is divided into four regions: Eastern Region, Western Region, Southern Region, and Northern and Central Region. Karnataka, Andhra Pradesh, Kerala, Tamil Nadu, and Telangana are the states that makeup Southern India. Because of the region's expanding energy consumption and inconsistent power supply, diesel generator sets are commonly employed. Power outages, industrial expansion, commercial use, and rural electrification all contribute to the use of diesel generators in Southern India. Furthermore, due to the region's expanding energy consumption, unstable power system, and need for backup power solutions, diesel gensets is increasing in Southern India.
Due to rising energy demand and an unstable power supply, diesel generator sets (gensets) are commonly utilized in Northern and Central India. Delhi, Haryana, Himachal Pradesh, Madhya Pradesh, Punjab, Rajasthan, Uttar Pradesh, and Uttarakhand are among the states represented. Diesel generators are utilized for backup power during power outages and in increasing industries and commercial buildings. They also provide a consistent source of electricity for rural electrification. The region's expanding energy consumption, unstable power system, and need for backup power solutions are driving the increased use of diesel gensets in Northern and Central India.
The research offers a competitive landscape based on thoroughly examining the important strategic initiatives undertaken by significant market participants over the years. The main companies covered in the India Diesel Genset Market research report are Kirloskar Oil Engine, Mahindra & Mahindra Ltd, Ashok Leyland, Cummins India Ltd, Greaves Cotton Ltd, Caterpillar Inc., Escorts Limited, and Powerica Ltd.
Caterpillar Inc. bought Tangent Energy Solutions, an energy-as-a-service (EaaS) firm located in the United States, in May 2022.
Mahindra Powerol opened a new manufacturing factory in March 2021 to produce the Perkins line of diesel generators. For the North Region of India, production handled by GOEM Perfect Generators Technology Pvt Ltd, Ghaziabad.
Renub Research report titled "India Diesel Genset Market & Volume, Forecast by Kva Range Market and Volume (Low, Medium and High) End-User Market (Residential, Commercial and Industrial), Eastern and North Eastern Region Market (West Bengal, Odisha, Jharkhand and Others), Western Region Market (Gujarat, Maharashtra, and Others), Southern Region Market (Andhra Pradesh, Karnataka, Tamil Nadu, Telangana and Others), Northern and Central Region (Uttar Pradesh, Punjab, Haryana and Others), Company (Kirloskar Oil Engine, Mahindra & Mahindra Ltd, Ashok Leyland, Cummins India Ltd, Greaves Cotton Ltd, Caterpillar Inc., Escorts Limited, and Powerica Ltd.)" provides a complete analysis of India Diesel Genset industry.